REGULATIONS OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of November 15, 1996 No. 37/09

About opening of branches of banks

I. Basis and application

These regulations are developed according to the powers of National Bank of Moldova provided by articles 11 and 44 of the Law on National Bank of Moldova and articles 13 and 40 of the Law on financial institutions.

Branches only from prior consent of National Bank of Moldova in the conditions provided by these regulations can open jars. The bank branch has the right to perform the financial activities permited bank from the date of receipt of the verified copy of the license of bank.

II. Conditions for opening of branch

For opening of branch the bank shall conform to the following requirements:

a) have and support the I level the capital and coefficient of the aggregate normative capital in relation to the assets weighed taking into account risk according to requirements of Rules about capital adequacy taking into account risk (The PM N 130 official monitor of 26.10.2001);

b) function at least one year after receipt of the license for implementation of financial activities and to be subjected to check by inspectors of National Bank of Moldova at least once;

c) fulfill requirements of the laws of the Republic of Moldova and regulations of National Bank of Moldova;

d) not be subject to application of remedial measures from National Bank of Moldova.

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